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Macroeconomics Revision Test (2)
Quiz by Koen De Mulder
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Unemployment is most likely to rise when
The Consumer Price Index is a measure of changes in the
In 2000, the money national income of a country was $500 billion. In 2001 the money value of national income had grown to $550 billion but the price level had risen to 102. The approximate value of real national income in 2001 is
One of the advantages of an appreciation in the UK exchange rate against other currencies is that
The Monetary Policy Committee of the Bank of England decides to reduce interest rates over a period of time from 6% to 4%. Other things being equal, this is likely to lead to
Macroeconomic disequilibrium exists when
The most likely cause of the shift in the short run aggregate supply curve shown in the diagram would be
The chart shows the UK (sterling) exchange rate and the annual trade balance in goods for the UK for each year since 1990. The rise in the exchange rate during the years 1996 - 2001 is likely to have caused a larger trade deficit because
An increase in the rate of valued added tax would other things remaining equal lead to
Supply-side policies are understood to be policies which
Which one of the following types of unemployment would be associated with a decline in employment in the pharmaceuticals industry due to a global economic slowdown?
A country experiences a persistent deficit in its balance of payments and falling unemployment. Which one of the following policies would suggest that the Government's main objective is to reduce the balance of payments deficit?
A tax is defined as regressive if
Real national income may be defined
The chart shows the index of the level of output in Manufacturing and Service industries. From the data contained in the table it can be seen that
A government wishing to reduce the level of unemployment through the use of fiscal policy would be most likely to
Investment may be defined as
A cut in interest rates will give a boost to aggregate demand if it leads to an increase in
A cut in interest rates will give a boost to aggregate demand if it leads to an increase in
A multiplier effect occurs when an initial change in government spending leads to a larger change in the level of
Real income may be obtained from data on money income by allowing for